[Congressional Record Volume 155, Number 9 (Thursday, January 15, 2009)]
[Extensions of Remarks]
[Pages E102-E103]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       THE SAFE COMMISSION: LETTERS TO TREASURY SECRETARY PAULSON

                                 ______
                                 

                           HON. FRANK R. WOLF

                              of virginia

                    in the house of representatives

                       Thursday, January 15, 2009

  Mr. WOLF. Madam Speaker, I continue to be deeply concerned about 
America's mounting deficit spending and Federal debt and have been 
working for the past several years to engage this administration in 
embracing a bipartisan plan to reverse course and get our country on a 
sound and sustainable financial path.
  I introduced the SAFE Commission concept for the first time during 
the 109th Congress on June 7, 2006. In the 110th Congress I teamed with 
Jim Cooper, and we introduced the bipartisan SAFE Commission 
legislation again. A similar Senate effort was led by Budget Chairman 
Kent Conrad and ranking member Judd Gregg.
  Following the SAFE bill's introduction, I reached out to Treasury 
Secretary Paulson about getting our fiscal house through more than a 
dozen letters from July 12, 2007, to April 10, 2008, updating the 
administration on progress that was being made with the bill. I submit 
for the Record a sample of that correspondence.
  I have been encouraged with the growing support for the SAFE proposal 
from leading newspaper editorials to think tanks to syndicated 
columnists to business organizations. I

[[Page E103]]

remain deeply disappointed that this idea was not embraced by Secretary 
Paulson. I hope that the Obama administration will understand the 
urgency for bipartisan action to address this nation's long-term budget 
challenges, especially as we deal with the current financial crisis, 
for the sake of our children and grandchildren.


                                     House of Representatives,

                                    Washington, DC, July 12, 2007.
     Hon. Henry Paulson,
     Secretary, Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: As you know, Senator Voinovich and 
     I reintroduced the Securing America's Future Economy (SAFE) 
     Commission Act in January. I wanted to follow up with you and 
     share the enclosed letter I wrote to the president asking 
     that the administration embrace this idea.
       I think about our children and grandchildren and it is 
     disheartening that critical issues are falling by the wayside 
     because Congress today is so polarized. I believe that a 
     bipartisan commission operating outside the halls of Congress 
     that would mandate action is the answer to getting our fiscal 
     house in order and diverting financial crisis in this 
     country.
       The SAFE Commission bill has 32 cosponsors to date. I am 
     committed to continue working with my colleagues to enact 
     this legislation on a matter of such importance to our 
     nation's future.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
                                               Member of Congress.
                                  ____
                                  


                                     House of Representatives,

                                   Washington, DC, August 3, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: I read your recent comments about 
     reaching the statutory debt limit as early as October. I have 
     always voted for the limit increase but am seriously 
     considering voting against it this year because of the lack 
     of leadership by the administration in taking steps to change 
     the country's current financial path. I truly believe that 
     this administration has the ability to change our course.
       I am not writing to you today as a Republican or a 
     Democrat, but as a father and grandfather. Lawmakers on both 
     sides of the aisle understand the enormity of this issue and 
     the impact that will be felt for generations to come. It's 
     disheartening that the partisan political divide in Congress 
     is so consuming that issues with such high stakes continue to 
     languish.
       That's why I have introduced the Securing America's Future 
     Economy (SAFE) Commission Act, which would establish a 
     bipartisan commission and put everything--entitlement, tax 
     policy, and other federal spending--on the table for review.
       This administration can offer hope and start to remedy our 
     fiscal prognosis, brightening the horizon for our children 
     and their children. It is critical that they have all the 
     opportunities the Greatest Generation made possible for you 
     and me. Our grandchildren should set ambitious goals, and 
     believe that hard work will be met by opportunity.
       We have a moral obligation to address the long-term fiscal 
     challenges ahead.
       I know you are a good person and want what is best for 
     America. With your leadership and vision, progress can be 
     made.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, October 22, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Just wanted to update you on the 
     SAFE Commission legislation since I reintroduced the bill 
     with Jim Cooper three weeks ago.
       The measure has gained bipartisan support with over 40 
     cosponsors--split evenly between Democrats and Republicans 
     from members of the Republican Study Committee to three of 
     the four Blue Dog Coalition co-chairs I believe that support 
     for this measure will continue to grow.
       You may have read that the first baby boomer signed up for 
     promised Social Security benefits last week. Our nation's 
     ``long term'' deficit problem has arrived.
       We should he concerned that last Monday the U.S. dollar hit 
     an all-time low in the wake of a major housing recession and 
     enormous trade deficits. We should care that the value of the 
     dollar has been dropping against the Canadian dollar, the 
     Euro and the Japanese yen.
       What will it take for us to address these issues?
       The SAFE Commission fits into what this administration 
     claims to stand for and will ensure sound financial footing 
     for generations to come. I have enclosed information on the 
     bill since its reintroduction including a list of current 
     cosponsors.
       Please give serious consideration to the SAFE Commission 
     Act.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, October 25, 2007.
     Hon. Henry Paulson,
     Secretary, Department of the Treasury,
     Washington DC.
       Dear Secretary Paulson: As meritorious as the 
     Administration's argument is with regard to the $21 billion 
     in discretionary spending it is relatively insignificant 
     compared to the massive entitlement spending problem. It is 
     like comparing a mouse to an elephant.
       Our SAFE Commission bill represents all that the 
     Administration says it cares about, including more than 50 
     bipartisan cosponsors (see list).
       Failing to address this issue is like driving a car toward 
     the edge of a cliff with no brake pedal.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, November 1, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington DC.
       Dear Secretary Paulson: I am deeply troubled that this 
     Administration is missing an opportunity to do something so 
     powerful for our children and grandchildren.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                Washington, DC, November 14, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: As a follow up to our conversation 
     last week about the SAFE Commission. I want you to know that 
     Roy Blunt has also signed onto the bill.
       The Cooper-Wolf SAFE Commission has over 50 bipartisan 
     cosponsors including Republican leadership in the House (see 
     enclosed).
       We are waiting for the Administration to support this 
     effort to rein in entitlement spending.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, December 5, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Enclosed is a letter I recently 
     received from Ben Bernanke about our nation's fiscal 
     imbalance, reiterating. ``. . . if early and meaningful 
     action is not taken, the U.S. economy could be seriously 
     weakened, with future generations bearing much of the cost.''
       Your administration deserves credit for its work in the 
     past to address the entitlement reform issue. Our parents 
     told us that if at first you don't succeed, try, try again. I 
     am asking that the SAFE Commission be that second try.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, January 17, 2008.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Between July 19 and December 10, 
     2007, I wrote to you nine different times about the 
     unsustainable financial path our country is on, and the 
     bipartisan SAFE Commission as a potential way forward to rein 
     in entitlement spending. I have respectfully asked for the 
     administration's support because of the critical importance 
     of taking action now.
       I am disappointed that the administration is missing this 
     opportunity to bring about a renaissance in America, giving 
     hope to future generations and ensuring that our children and 
     grandchildren can live in a world where hard work will be met 
     by opportunity.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.

                          ____________________